What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading platform that differentiates itself from the competition by charging no fees.
A fintech business founded in the Fall 2014 originally as a robo advisor algorithmic trading app named Wealthsimple Invest, it has changed significantly over the past 8 years to include Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors to trade single stocks and also ETFs without paying fees. The exception is when you’re trading securities that are listed in USD. In that case, they will charge a nominal currency conversion fee both when buying and selling. However, past us are the days of having to pay Upwards of $7 per trade with digital discount brokerages as was the norm only a few years ago.
Exactly How Much Cash Will I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is awesome such that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable initial deposit amounts of 1K-5k. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both registered and non-registered account types. You are free to choose both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app offered on both IOS and also Android. The mobile app makes the registration steps and also the trading of stocks and ETFs super painless.
Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . This company has been operating for more than 7 years and currently employs about 600 Canadians. The controlling owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to add funds to an account. Simply connect a chequing or savings account with your Trade account, and add money to your account in just a few steps. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can the same way can be withdrawn a chequing or savings accounts by the same process.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to e-transfers that allow you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your taxes online for free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which allows you to get 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a bunch of courses on saving, investing, crypto, home buying and more.
Each of the mentioned features, along with Wealthsimple Trade can be found on the app and on the website with a single login.
But How Can I Start Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you will receive the equivalent cash value of a random share valued at up to $4,500 Canadian when you deposit to your account.
So What if I Still Have Questions About Wealthsimple Questions?
If this blog post didn’t given you the answers to all of your questions, and you’re still looking for further specific information about Wealthsimple Questions, check out the Wealthsimple website for answers to every one of your questions.